Shares of The Hanover Insurance Group, Inc. (NYSE:THG – Get Free Report) have received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $225.7143.
THG has been the subject of several analyst reports. Citizens Jmp boosted their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, July 30th. Oppenheimer lifted their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Piper Sandler lowered The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a report on Wednesday, July 15th. Finally, BMO Capital Markets cut The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their price target for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th.
Check Out Our Latest Stock Analysis on The Hanover Insurance Group
The Hanover Insurance Group Trading Up 0.0%
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business posted $4.35 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that The Hanover Insurance Group will post 20.17 earnings per share for the current fiscal year.
The Hanover Insurance Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at The Hanover Insurance Group
In related news, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the transaction, the director owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dennis Francis Kerrigan sold 6,551 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the transaction, the executive vice president owned 12,003 shares in the company, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,655 shares of company stock valued at $2,145,846. Company insiders own 2.80% of the company’s stock.
Hedge Funds Weigh In On The Hanover Insurance Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPL Wealth Management LLC purchased a new position in shares of The Hanover Insurance Group in the 3rd quarter valued at approximately $26,000. McMillan Office Inc. acquired a new stake in The Hanover Insurance Group in the fourth quarter valued at $31,000. Entrust Financial LLC acquired a new stake in The Hanover Insurance Group in the fourth quarter valued at $33,000. Clearstead Trust LLC purchased a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth $36,000. Finally, Root Financial Partners LLC boosted its position in shares of The Hanover Insurance Group by 69.3% during the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.
The Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.
In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.
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